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RUFC - Millers still in the red?

RUFC - Millers still in the red?

Rotherham United's ex director, Giles Brearley wants to clear up a statement from Millers Chairman, Tony Stewart that says when he took over the club there was a £1.2m deficit.

Mr Stewart quoted the £1.2m figure at a fans forum a few weeks ago but Mr Brearley wants to put the record straight and told The Advertiser, 'When Tony called to see me I asked him where that figure had come from. He said it was from the statement of affairs by the Administrator, Jeremy Bleazard.

'Well, myself and the former directors, Denis Coleman, Dave Costin and Gary Hall, would like to put the record straight. Tony was correct in that £1.2m was the final figure that came up but it also includes monies owed to his syndicate that were injected, all the legal fees which is a six figure sum and a claim from landlords, CF Booth Group, over the lease on Millmoor and the training ground at Hooton Lodge. In real terms the trading deficit that Tony should have quoted was about a third of the £1.2m.'

Mr Brearley also refuted the Chairman's 'we are back in the black' comment. 'In essence it refers to a business plan that puts the club back into profit in three to four years. We had one of those as well and we hunted and hunted for two years for a financial backer and our regret is that they didn't come forward to take over when we approached them the first time.

'The club is still losing money at present but hopefully it will work its way back into the black - given time, and a fair wind, it can happen. I wish Tony and his backers well with the club.'

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Writer:Herringthorpe
Date:Friday October 31 2008
Time: 8:34AM

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